On 31 January 2022, the Ministry of Finance (MoF) of the UAE announced the introduction of a federal CT on business profits effective for financial years starting on or after 1 June 2023.
Recognizing the importance of consultation with the business community and other interested stakeholders, the MoF has launched a public consultation process ahead of the official release of the relevant legislation. Input received will be carefully considered and will assist the MoF in further refining and implementing the proposed CT regulations.
In light of the above, Deloitte held a webinar on Thursday, 19 May 2022, and discussed the following points:
- Additional details and content provided in the document
- Tax implications based on the detailed examples provided in the document
- Highlight areas of uncertainty and respective policy options
As the International and M&A Tax Leader for Deloitte Middle East, Alex led many complex tax advisory and compliance engagements with large multinationals, regional SWFs and family owned businesses with particular focus on M&A transactions and tax structuring. His focus is on anticipating client needs in a dynamic market and delivering high-value quality professional services; and attracting, developing and retaining a team of high-performing professionals. Alex has over c.20 years of experience with Deloitte and has worked in Deloitte offices in UK, Central Europe and the UAE, where he is now based. Alex spent 6 years in London’s REHL tax practice prior to relocating in 2008 to head up Deloitte’s Real Estate and M&A tax practice in Romania, as part of the Central Europe cluster. During his time at Deloitte, Alex has gained significant experience working with leading International clients, advising them on transactional work, cross border tax issues, group restructuring, development of internal tax policy and strategy as well as providing tax compliance support services. Alex is a Chartered Accountant and a fellow member of the Institute of Chartered Accountants of Chartered Accountants in England and Wales. He also holds a Bachelor of Science (BSc) Honours degree from Durham University, UK. Alex joined Deloitte from Morgan Stanley Investment bank in 2002 and previously also worked at Goldman Sachs International in London.
Jan Roderick van Abbe
Jan is a Partner based within the International and M&A Tax team in Deloitte, Dubai. He has over 15 years of experience within direct and international taxation and transferred from Deloitte Singapore (and Deloitte Switzerland previously) to the UAE in 2016. Jan has substantial experience with inbound investments and structuring, providing tax and transfer pricing advisory in relation the relocation/set-up of companies, transfer of functions (IP and holding company), set-up of principal structures, permanent establishment analysis, application of tax holidays, tax planning around cash repatriation, treaty application and transfer pricing. Jan also has experience in negotiating and obtaining many advance tax rulings with the Swiss tax authorities Jan advises Middle Eastern multinationals regarding their legal and tax structures taking into account the developments arising from BEPS/economic substance requirements and other political developments focusing on risk management and asset protection. Jan leads Deloitte’s Economic Substance and Pillar 1&2 service offering across the region. Jan is regularly speaking at tax event such as IFA on international tax developments. Jan is a Swiss Certified Tax Expert and holds a Master’s degree in law from the University St. Gallen (HSG).